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If money was perfectly efficient we wouldn't need it, its just a way to negotiate on stores of value without having to trade pigs around. The military thing ab
by hobs 3y ago
If money was perfectly efficient we wouldn't need it, its just a way to negotiate on stores of value without having to trade pigs around.
The military thing absolutely ascribes value, but so does every other human interaction with a thing, value is something we all hold in our minds, if you want it and I have it, it's valuable, if not, it's worthless. There's no magic regarding money in this equation.
- hgomersall 3y agoMoney has always been a tool of the state. Even if it was perfectly efficient, the state would still use money for its own ends. Edit: moreover, most money is created to support activity in which the two sides cannot be matched at all, because one side doesn't exist yet, specifically loans. It's hard to see how some hypothetical perfect exchange mechanism would deal with disparities in time.